Hello everyone, let's look at the BTC to USDT chart on a 4-hour time frame.
Let's go to the chart and start by marking with blue lines the uptrend channel in which the price has been moving since November 21st.
Now, taking into account the entire upward movement, it is worth marking the place of 0.61 Fib Retracement as a very strong support for BTC, then using...
Let’s have another quick look at the VET/USD 1w chart.
Here is a closer look at this 1w chart.
VeChain is still in its Descending Wedge Pattern on this 1w chart. Note that VET failed to close a weekly candle above its upper descending trend line of its Descending Wedge Pattern at around $0.0286. $0.0286 was also the previous high from Mon 23rd Jul...
I am looking at trading the DAX today on the 4-hour chart.
We have seen nothing but bearish momentum and looking for a bullish setup right now is pretty risky. This is why I have decided to grade this setup ( as it is a counter-trend ) as a ‘C’ Grade setup.
Price has touched the bottom of the Bollinger bands and I am waiting for a bullish engulfing candle to show...
BTC/USD 4hr chart analysis:
On the 17th, BTC had broken downwards out of its Ascending Wedge Pattern on this 4hr chart.
BTC had found some support from its support level at around $21,264 but has now dropped below it. A successful 4hr close below this level will possibly take BTC to its support area at around $20,834 to $20,494.
The Ichimoku Cloud Lagging Span...
Hello everyone, let's take a look at the 1H ADA to USDT chart as you can see the price is moving in the local downtrend channel.
Let's start by setting goals for the near future that we can consider:
T1 - $ 0.5378
T2 - $ 0.5421
T3 - $ 0.5456
T4 - $ 0.5490
and
T5 - $ 0.5540
Now let's move on to the stop loss in case of further market declines:
SL1 - $ 0.5319
SL2...
Hi Traders,
I hope you are all doing well today. It is Monday and the start of a brand new week. Let's smash those trades this week!
Today I am looking at AUD/USD on the 4-hour time frame.
We have an interesting double-bottom pattern playing out.
I say interesting because the second bottom of the pattern wicked quite a bit lower than the first peak. Usually,...
Looking at the VET/USD 1 week chart we can see that VET is in a massive Falling Wedge Pattern. A Falling Wedge Pattern is potentially a Bullish Reversal Pattern. Note that the APEX of the Falling Wedge Pattern is located around the end of October 2023. A weekly candle CLOSE BELOW the Lower Converging Trend-line can easily invalidate this pattern as we saw with the...
BTC is currently correcting from an ATH of 69,000 in either an ABC zig-zag or a WXY combination wave and I've attempted to find possible bottom targets using Fibonacci clusters based on rules for both zig-zags and combo waves.
Two ranges have appeared as a result of this study. First, is the range from 12,500 to 9800 and the second is a range from 4,500-3,400. A...
BTC is in a massive Falling Wedge Pattern. A Falling Wedge Pattern is potentially a Bullish Reversal Pattern. Note that the APEX of the Falling Wedge Pattern is around March/April 2024.
BTC is in a Negative Ichimoku P Wave Pattern. BTC has been in 2 Previous P Waves from the all time high and both P Waves ended with further drops to the downside.
BTC is also in...
This is a longterm analysis of a possible 3 year outlook for VET/USD using the 1 week chart.
Here is a closer look at this VET/USD 1 week Chart.
On this 1 week timeframe, VET has been back above its Least Squares Moving Average (LSMA) since the week of 7th March 2022. Note that a weekly close ABOVE the LSMA is considered a BUY SIGNAL for this indicator.
VET...
Looking at the BTC/USD daily chart we can see that BTC is still under its Least Squares Moving Average as well as still under its Bollinger Bands Middle Band Basis 20 Period SMA. Note that we have expansion of the Lower Bollinger Band.
BTC is still in a Descending Pitchfork Pattern and has found some support from its Upper Green Pitchfork Support Line. Note that...
Looking at the Trend-Base Fib Extension we can see that BTC found some support from its 0.5 Fib Level at $30,329. If this support level fails then the next Fib Levels are 0.618 at $26,100 and 0.786 at $20,077.
Looking at the Bollinger Bands, we can see that BTC is still way below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1 week timeframe. Note...
A quick BTC/USD update:
At the moment, BTC is testing its crucial Descending Resistance Line of its Triangle Pattern as well as testing its crucial Resistance Area. Note that BTC has found resistance from this Descending Resistance Line 3 times previous and you can clearly see the interactions of the previous Daily Candles with this Resistance/Support area.
Note...
The Trend-Based Fib Extension level 0.236 at $42,492.75 is the level BTC needs to close above and successfully re-test as support for continued upwards momentum on this 1 day timeframe. This level is also where its descending trend-line is located exactly on the 0.236 level.
At the moment, BTC is also back above its Least Squares Moving Average, its Bollinger...
BNC:BLX
BTC moves in accord with Fibonacci Levels more so than most assets. I will use 2 different Fib tools, and 4 ways of drawing, 3 of which are the classical "Fibonacci Retracement", the other one is "Trend Based Fibonacci Extension".
Before beginning it is important to notice that;
The dashed line Fib, is " extension " drawn from high to low, 1.272,...
I have added a Schiff Pitchfork Pattern (A,B,C) to this 1d timeframe. As you can clearly see, BTC tested the Schiff Pitchfork Median Line 7x as support and then that support failed on the 8th time and BTC has closed well below its Schiff Pitchfork Median Line.
At the moment, BTC has found some support from its support area highlighted with White Dotted Lines...
BTC is still below The Median Line of its Longterm Upwards Pitchfork Pattern on this 1d timeframe.
Note that BTC has not closed a daily candle below the Lower Yellow Pitchfork Support Line since the 7th Nov 2020.
Note that BTC has previously found support from this Lower Yellow Pitchfork Support Line on the 20th and 21st of July 2021.
BTC is still below its...
VTHO is still in a massive Symmetrical Triangle on this 1d timeframe and is fast approaching the APEX.
VTHO has found some resistance from its 0.236 Trend-Based Fib Extension level. A close above this level and successful retest as support will be a very good sign,
VTHO is in a Bollinger Bands Squeeze on this 1d timeframe. A big move normally proceeds after a BB...
